Meme Stocks Are Back: Beyond Meat, Krispy Kreme Lead Retail Frenzy as Speculative Trading Returns
Retail traders are back in force, and so are meme stocks. Shares of several heavily shorted, high-volatility names surged this week as investors piled into speculative trades reminiscent of the 2021 GameStop era. The sudden wave of buying, driven largely by social media debate and short-squeeze momentum, has reignited one of Wall Street’s most unpredictable trading phenomena.
Beyond Meat (BYND), the newest obsession of retail traders, skyrocketed more than 900% over the past five sessions, briefly touching levels not seen since early 2022. The plant-based food company’s meteoric rise was fueled by its addition to the re-launched Roundhill MEME ETF and a new Walmart distribution deal that expanded its in-store footprint.
Retail Traders Drive the Rebound
Data shows that retail investors poured nearly $35 million into Beyond Meat stock on Tuesday — the company’s largest single-day inflow ever. That surge has been mirrored across other “meme favorites,” including Krispy Kreme (DNUT) and GoPro (GPRO), which climbed more than 20% and 14%, respectively.
The renewed frenzy indicates a growing appetite among retail traders for high-risk, high-reward plays in a market that has otherwise been weighed down by macroeconomic uncertainty. “This is a throwback to 2021; the hope, dreams, themes, and memes kind of environment we were navigating in that time frame,” said Matt Stucky, chief equities portfolio manager at Northwestern Mutual Wealth Management.
The Short Squeeze Setup
Beyond Meat’s staggering rally has been supercharged by its short interest, with more than 64% of its float borrowed by investors betting against the stock, according to FINVIZ data. That’s the perfect recipe for a short squeeze; when short sellers are forced to buy shares to cover their positions, pushing prices even higher.
Krispy Kreme and GoPro also showed rising short interest levels, at 30% and 13% respectively, while both recorded their highest retail buy volumes in months. The setup has drawn comparisons to past squeezes in AMC Entertainment and GameStop, though analysts caution that today’s meme wave is smaller and more fragmented than the 2021 frenzy. Meanwhile, Opendoor Technologies (OPEN), one of 2025’s biggest meme names, fell 8% Wednesday after a massive run-up earlier this year. The stock is still up nearly 300% in 2025, bolstered by vocal support from hedge fund manager Eric Jackson, who has become a key influencer in online trading circles.
A Different Meme Era
The return of meme trading coincides with a period of choppy market sentiment. With the Federal Reserve expected to cut rates soon and the government shutdown delaying key data releases, retail investors appear to be seeking excitement in riskier corners of the market.
Still, this version of meme mania looks different. The players are smaller, the trades more diversified, and the social media chatter more fragmented. Analysts at Bloomberg noted that, unlike in 2021, institutional investors are less likely to get caught off guard this time — though volatility remains extreme.
Looking Ahead
While meme stocks are once again dominating headlines, most analysts see this rally as a speculative blip rather than the start of a broader trend. Retail enthusiasm can fade as quickly as it ignites, especially if short sellers reassert control or liquidity dries up. For now, the meme trade’s revival is a reminder of the market’s enduring appetite for drama, and the retail investors who still relish the thrill of defying Wall Street’s expectations, one short squeeze at a time.
